Mascoma Savings Bank made its first presence in Canaan in July 1977, as a storefront branch at 1192 Route 4. Ribbon cutting ceremonies that day included bank treasurer Arlene Chapman. Arlene was born in Grafton, New Hampshire, in 1927, and graduated from Canaan High School in 1945. She retired as Senior Vice President and Treasurer, the first woman to have served as Mascoma Bank’s CFO.

For some 10 years, the bank recognized that its Canaan office was inadequate to meet the growing demands of its clientele, and finally acquired a property bordering Route 4 and School St. from Noel and Jean Cady.

The current branch opened in January 1989. A vault in the Canaan basement held the disaster recovery documents with proof back up tapes, loan back up tapes, teller tickets, and more. Now, this information is stored digitally.